There will be two different models at launch.

The smaller of the two will be the standard Galaxy S7, which will have a 5.2-inch screen. The larger model, called the Galaxy S7 Edge, will have a 5.5-inch screen with curved edges like the Galaxy S6 Edge.

The only major aesthetic difference is said to be slightly more curved edges on the front and back panels of the standard Galaxy S7 model.

4/

It'll have a microSD port.

The microSD port on the HTC One A9.
Antonio Villas-Boas/Tech Insider

According to the Wall Street Journal, Samsung will re-introduce the microSD port to the Galaxy S7 line. The port lets you insert a memory card for extra storage.

Samsung fans were outraged when the company removed the feature on the Galaxy S6 line as a compromise for using premium materials like glass and metal. By using those materials, the S6's back couldn't be removed like previous models, which is how you'd reach the microSD port in the past.

If Samsung does bring back the microSD port, it'll probably be on the side of the device.

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It'll be water-resistant.

A screenshot taken from the latest video leak from Samsung itself.
Samsung

The first rumors of a water-resistant Galaxy S7 came from SamMobile, and if the latest video showing the alleged Galaxy S7 Edge is real, the rumors are true.

Water resistance was another feature Samsung removed for the S6 line, as it was present in the Galaxy S5. It's not a must-have feature, but it could save your phone for "that one time" it meets a pool or toilet.

It'll have an eye scanner for security.

If it's anything like the iris scanner on the ZTE Grand S3, an iris scanner on the S7 could unlock your phone using the front-facing camera.

9/

It'll have better battery life.

A rather chunky battery from a fake "Motorona" phone found in China.
Dom Esposito/YouTube

One of the main complaints about the S6 generation of Samsung smartphones was its poor battery life.

Hopefully, that'll change when Samsung releases the S7. It'll supposedly have a large 3,000mAh battery, up to 2,600mAh more than the Galaxy S6 line, according to Evan Blass, in a report on Venture Beat.

10/

It could have a camera with fewer megapixels.

Steve Kovach/Tech Insider

According to specs leaked on Chinese social media network Weibo with information obtained from benchmarking site AnTuTu, the Galaxy S7 line might have 12 megapixel cameras compared to the 16 megapixel cameras in the Galaxy S6.

That doesn't mean that the S7's camera would be worse, as a good camera doesn't rely on megapixel count.

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Samsung will release it on February 21 during the MWC event.

AP

Samsung sent out press invites to its "Unveiled" conference taking place in February 21 at MWC. That's when we expect the company to unveil the latest Galaxy smartphones.

It'll cost less than previous Galaxy flagship smartphones.

The rumored cost is $600, which is $50 less than the Galaxy S6's $650 starting price.

It wouldn't be too surprising if the S7's price is lower than the S6 considering there are several cheaper options that are just as premium and tempting as the Galaxy flagship lineup, like the Moto X (2015) and Google's latest Nexus smartphones, both of which cost under $500. It would be one of the ways Samsung remains competitive in the smartphone market.

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Pre-orders might come with a free Gear VR headset.

Samsung

You might get a free Gear VR virtual reality headset if you pre-order the Galaxy S7 after Samsung unveils it on February 21, according to Android World.

Currently, the Gear VR is compatible with Samsung's latest flagship devices, including the Galaxy S6 generation and the Note 5. The phones play the VR content, and the Gear VR provides the optics so that you can actually see the content.

The phones register your head movement using their accelerometer sensors, which allows you to look around a virtual world or setting. It's really cool.